Genus Capital Management Inc. Buys Shares of 30,510 The Bank of New York Mellon Corporation (NYSE:BK)

Genus Capital Management Inc. acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,510 shares of the bank's stock, valued at approximately $2,559,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $28,000. Finally, REAP Financial Group LLC grew its position in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BK shares. Evercore ISI raised their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Citigroup raised their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Morgan Stanley raised their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Finally, Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their target price for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.08.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president owned 55,115 shares in the company, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider owned 21,679 shares of the company's stock, valued at $1,680,122.50. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock worth $7,869,795 in the last quarter. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

NYSE BK traded up $0.04 during trading on Friday, reaching $93.70. 4,276,886 shares of the company traded hands, compared to its average volume of 4,138,902. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The stock's 50 day moving average price is $89.37 and its two-hundred day moving average price is $84.46. The company has a market cap of $67.04 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.00 and a beta of 1.07. The Bank of New York Mellon Corporation has a 1-year low of $60.93 and a 1-year high of $93.93.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The company's quarterly revenue was up 5.9% on a year-over-year basis. As a group, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.